Learning Is Mandatory

Most of what I can use easily, I learned by experience. Most of that experience involved learning from mistakes.

Mistakes are either your friend or your enemy.

The are your friend if you learn from them and can apply that to future situations that come along.

They are not your friend if you try to deny them, or fail to learn from them. Then they recur

The second worst mistake is to remain within the mistake. It is like drowning.

“You don’t drown by falling in the water; you drown by staying there.” Edwin Louis Cole

What’s the worst mistake?

Th worst is trying to make none. It is anti-learning. The world changes. Suppose you know everything and knew how to do everything. If if you didn’t learn any more, 10 years from now you would not know 20% of what would be there. You can see it easily. You must always be alert to new things.

A question for you.

Do you understand block chain technology? What’s it good for? Do you think digital currency will become the thing? Rethink that. Governments like having control of money. There are many other things block chain is good for, and they may become dominant. You will not be able to avoid it.

Take a look at this article. One point stood out for me. Block chain is bottom up. Governments are top down. If the dominant pole switches what happens?

Andreessen on Crypto

by Alex Tabarrok June 27, 2021 From Noahpinion’s interview with Marc Andreessen:

[C]rypto represents an architectural shift in how technology works and therefore how the world works.

That architectural shift is called distributed consensus — the ability for many untrusted participants in a network to establish consistency and trust. This is something the Internet has never had, but now it does, and I think it will take 30 years to work through all of the things we can do as a result. Money is the easiest application of this idea, but think more broadly — we can now, in theory, build Internet native contracts, loans, insurance, title to real world assets, unique digital goods (known as non-fungible tokens or NFTs), online corporate structures (such as digital autonomous organizations or DAOs), and on and on.

Consider also what this means for incentives. Up until now, collaborative human effort online either took the form of a literal adoption of real-world corporate norms — a company with a web site — or an open source project like Linux that had no money directly attached. With crypto, you can now create thousands of new kinds of incentive systems for collaborative work online, since participants in a crypto project can get paid directly without a real-world company even needing to exist. As great as open source software development has been, far more people are willing to do far more things for money than for free, and all of a sudden all those things become possible and even easy to do. Again, it will take 30 years to work through the consequences of this, but I don’t think it’s crazy that this could be a civilizational shift in how people work and get paid.

Finally, Peter Thiel has made the characteristically sweeping observation that AI is in some sense a left wing idea — centralized machines making top-down decisions — but crypto is a right wing idea — many distributed agents, humans and bots, making bottom-up decisions. I think there’s something to that. Historically the tech industry has been dominated by left wing politics, just like any creative field, which is why you see today’s big tech companies so intertwined with the Democratic Party. Crypto potentially represents the creation of a whole new category of technology, quite literally right wing tech that is far more aggressively decentralized and far more comfortable with entrepreneurialism and free voluntary exchange. If you believe, as I do, that the world needs far more technology, this is a very powerful idea, a step function increase in what the technology world can do.

I agree. See also my earlier post Blockchains and the Opportunity of the Commons:

Today smart contracts on blockchains like Ethereum (and Elrond, AT!) have the potential to create a sophisticated set of global common resources that will form the foundation for much of the economic and social structure of this century–this is the opportunity of the blockchain commons.

I help people have more retirement income and larger, more liquid estates.

Call in Canada 705-927-4770, or email don@moneyfyi.com

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